Adams Harkness & Hill analyst Steven Frankel had cut his rating on the stock after satellite giant DirecTV sold its stake in San Jose, Calif.-based firm. His concern was that DirecTV
DTV, -0.27%
which has accounted for a significant percentage of new business for TiVo, was severing ties with the company.

But a DirecTV spokesman said late Tuesday that the stock sale, worth about $24.1 million, doesn't signal a change in the companies' partnership. See full story.

In addition, TiVo said Wednesday it's introducing a standard set of services that will allow users to download music and movies from the Internet onto their DVR's hard drive, as well as digital photos.

Elsewhere, Clear Channel Communications
CCU, -0.49%
rose 4 cents to $38.02 after media reports that the radio giant has agreed to pay a total of $1.75 million in fines to the Federal Communications Commission to settle alleged indecency complaints. See full story.

Among diversified entertainment conglomerates, Rupert Murdoch's News Corp.
NWS, -1.47%NWS
slipped 66 cents to $35.79, while Viacom
VIAVIA, -0.66%
lost 40 cents to $37.45. Viacom is a significant shareholder in MarketWatch.com, the publisher of this report.

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